The supply and demand equations for a clothing product in a particular week are given by
$p=0.6 q+2 \quad$ Supply Equation
$p=-1.2 q+20$ Demand Equation
where $p$ is the price in dollars and $q$ is the quantity in hundreds.
Find the equilibrium price and quantity.
Note:
The format of your answer for the price must be written as an integer with two decimals (cents) with a $\$$ sign. Examples of this format is $\$ 8.35$ or $\$ 4.00$, and the format for the quantity must be written in only integer, for example 220 .
Equilibrium Price: $p=$
A
Equilibrium quantity: $q=$
A

Step 1 ：First, we set the supply equation equal to the demand equation to find the equilibrium quantity. This gives us the equation \(0.6q + 2 = -1.2q + 20\).

Step 2 ：We can simplify this equation by adding \(1.2q\) to both sides to get \(1.8q + 2 = 20\).

Step 3 ：Subtracting 2 from both sides gives us \(1.8q = 18\).

Step 4 ：Dividing both sides by 1.8, we find that \(q = 10\).

Step 5 ：Substitute \(q = 10\) into the supply equation \(p = 0.6q + 2\) to find the equilibrium price.

Step 6 ：This gives us \(p = 0.6*10 + 2 = 8\).

Step 7 ：So, the equilibrium price is \(\boxed{\$8.00}\) and the equilibrium quantity is \(\boxed{1000}\).